Orion Group (NYSE:ORN) Stock Price Up 6.3% Following Analyst Upgrade

Orion Group Holdings, Inc. (NYSE:ORN)’s stock price traded up 6.3% during mid-day trading on Thursday after DA Davidson raised their price target on the stock from $13.00 to $15.00. DA Davidson currently has a buy rating on the stock. Orion Group traded as high as $14.66 and last traded at $13.6850. 425,958 shares changed hands during trading, an increase of 42% from the average session volume of 299,526 shares. The stock had previously closed at $12.87.

A number of other research firms have also commented on ORN. Weiss Ratings restated a “hold (c)” rating on shares of Orion Group in a research report on Thursday, January 22nd. JPMorgan Chase & Co. began coverage on Orion Group in a report on Thursday, January 22nd. They issued an “overweight” rating and a $16.00 target price on the stock. Finally, B. Riley Financial restated a “buy” rating on shares of Orion Group in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.17.

Institutional Trading of Orion Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Orion Group by 1.9% in the first quarter. Empowered Funds LLC now owns 119,720 shares of the construction company’s stock valued at $626,000 after acquiring an additional 2,220 shares during the period. OLD National Bancorp IN lifted its holdings in shares of Orion Group by 20.7% during the 3rd quarter. OLD National Bancorp IN now owns 16,047 shares of the construction company’s stock valued at $134,000 after purchasing an additional 2,751 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Orion Group by 171.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,487 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,832 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Orion Group by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,172 shares of the construction company’s stock worth $428,000 after buying an additional 2,853 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Orion Group by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 17,316 shares of the construction company’s stock worth $144,000 after buying an additional 2,999 shares during the period. 70.25% of the stock is owned by institutional investors.

Orion Group Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.35. The stock has a market cap of $564.19 million, a P/E ratio of 61.48 and a beta of 1.18. The stock’s 50 day simple moving average is $11.04 and its two-hundred day simple moving average is $9.31.

About Orion Group

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.